liquidity provision

Investors trading Bitcoin after regular market hours seek a dedicated ETF that mirrors the crypto market’s 24‑hour rhythm. Such a “night‑owl” ETF would enhance liquidity, provide regulatory‑compliant exposure, and attract retail participants, especially in Asian time zones. Key hurdles include extending trading windows, ensuring robust custodial security, and meeting SEC anti‑manipulation standards via blockchain analytics. Emerging DeFi tools—automated market makers, layer‑2 scaling, and real‑time oracles—can support continuous pricing and settlement. Analysts project up to $5 billion of inflows in the first year, though operational complexity, investor education, and potential regulatory delays remain significant challenges.